Papua New Guinea will move more into downstream processing and manufacturing of its resources, Prime Minister Hon. James Marape said in his address to the nation for the 49th Anniversary of PNG’s Independence. Stating the importance of working together to build a robust, inclusive economy, Marape also stressed the need to diversify PNG’s economy beyond...

Papua New Guinea hosted several key events this year, including the 2024 IPA Regulators Summit in July. At the summit, regulatory agencies shared their roles, responsibilities, and plans. These agencies are vital to the nation's economic development, ensuring compliance with laws and supporting government initiatives. During the summit, PNG Customs Chi...

Tolu Minerals is poised to breathe new life into the Tolukuma gold mine, aiming to unlock substantial gold resources and restore production. This strategic effort not only signals a significant revitalisation of one of Papua New Guinea’s historically high-grade mines but also promises far-reaching economic and social benefits for the region. Tolu Miner...

Tolu Minerals has launched the Bakoiudu-Tolukuma Road Project in Central Province, Papua New Guinea. This crucial infrastructure initiative will connect the Kairuku and Goilala Districts, benefiting both the Tolukuma Mine and local communities. Governor for Central Province, Hon. Rufina Peter, and Managing Director of the MRA, Mr. Jerry Garry, the Mana...

The recent August POMCCI Breakfast event saw Ashurst PNG host an exclusive breakfast panel discussion, “Building for the Future: Lessons Learnt,” at the Marriott Executive Apartments’ Harbourside South on 29 August in Port Moresby. The event, designed as a networking stand-up buffet, was attended by leading corporate members, industry stakeholders, and de...

The Bank of Papua New Guinea (BPNG) officially launched the Kina and Toea Exhibition, a display celebrating the nation's rich economic history and the 50th anniversary of Papua New Guinea’s currency. This event, held as part of the Bank’s 50th anniversary celebrations, coincides with the upcoming 50th anniversary of PNG's independence in 2025. The Kina...

The National Energy Authority (NEA) has officially launched its Corporate Plan 2023-2027, marking a significant milestone in Papua New Guinea’s energy sector. The Corporate Plan, launched on 23 August at APEC Haus in Port Moresby, is the first of its kind for the NEA. It outlines the strategic direction and key objectives that will guide the Authority’s e...

François Valerian, the Elected Chair of Transparency International (TI), raised concerns surrounding the long-term value of combating corruption within the business sector globally, including in Papua New Guinea. He noted that ethical practices are essential for sustainable growth. "The benefit of shareholders and stakeholders lies in the sustainability a...

Papua New Guinea is moving towards establishing the Pacific region’s first Blue Carbon Policy, aimed at safeguarding the country’s vital blue carbon ecosystems. The National Blue Carbon Policy provides an enabling framework for the conservation and sustainable management of blue carbon ecosystems in the country. A two-day National Blue Carbon Policy Ro...

To enhance maritime security, PNG Ports Corporation Limited (PNG Ports) has announced its active involvement in a newly formed working committee aimed at addressing criminal activities within declared port areas. This initiative comes at a time when ensuring the safety and security of ports is increasingly vital to the smooth operation of national and int...

Addressing a diverse audience of analysts, regulators, environmental scientists, and industry professionals during the Geosciences, Exploration, and Extraction (GEE) 2024 Conference, the Mineral Resources Authority (MRA) Managing Director, Jerry Gerry, emphasized the critical importance of sustainable practices in harnessing Papua New Guinea’s rich minera...

An innovative partnership between the Australian Government and PNG-based accreditation provider Paradais Review Services is set to send six Papua New Guineans on a vital training program in South Australia.   Over a two-week program, these individuals will train as National Association of Sustainable Agriculture Australia (NASAA) Organic Inspectors...

Credit Corporation (PNG) Limited has achieved a long-held dream of its founding directors by evolving into a fully-fledged bank, a milestone celebrated by Chairman Dr. Albert Mellam during the official licensing event by the Bank of Papua New Guinea (BPNG). The transition to CreditBank PNG marks a pivotal moment in the company’s history, reflecting its...

August 5th marked a historic moment for Papua New Guinea's financial sector as the Bank of Papua New Guinea (BPNG) issued commercial banking licenses to TISA Bank Limited and Credit Bank PNG Limited. This event, held at the BPNG headquarters in Port Moresby, is the first time two banking licenses have been granted on the same day, signaling a significa...

The 2024 Business Regulators Summit co-hosted by the Investment Promotion Authority (IPA) and Department of Information, Communication and Technology (DICT) on July 30 to 31 in Port Moresby drew representatives from businesses, regulators, investors, government agencies, non-government organisations, and the media across Papua New Guinea to Port Moresby f...

The Papua New Guinea Chamber of Resources and Energy (PNG Core) Manger for Policy and Analysis, Gretel Orake, addressed the urgent need for regulatory reform and enhanced capacity within PNG's regulatory bodies during the 2024 Business Regulators Summit held at Stanley's Hotel. Orake highlighted critical areas requiring attention to foster a more condu...